1A The organisation’s primary goals, vision and strategy
Primary Goals, Vision and Strategy
Lego is most commonly associated with its multi-coloured plastic bricks that can be assembled in an infinite number of ways to construct everything from buildings to working robots. Even as digital technologies disrupt the concept of play, the historical brick remains the core of Lego, though they have expanded their portfolio to include an array of digital products and services to stay relevant and serve new generations of children.
Introduction to Lego with the LEGO House
Mission
Inspire and develop the builders of tomorrow
Lego's core mission revolves around their belief in the power of play to shape a child's future. This includes using play to enable a child to develop skills that are vital for their future success and well-being, such as problem solving and creativity (Lego, 2020).
Brand Values
Though the traditional brick remains the core of Lego's business, each year, around 55% of their product portfolio is new. They combine lego bricks in new, fun, ways to inspire creativity and imagination through storytelling. Lego also incorporates technology to enable new ways of fun and learning. Through caring, Lego strives to make a positive difference in the lives of children, partners and environment, which includes helping them develop important life-skills and becoming carbon-neutral. Lastly, Lego constantly looks to deliver the best quality of products and services (Lego, 2020).
Future Strategy
Overall, Lego's strategy is supported by long-term investment efforts to carry out its mission of inspiring children for future generations. This includes investing in innovative ways of intertwining physical and digital play. Lego is also constantly investing to strengthen their purpose-driven brand identity amongst a wide variety of customer groups through global marketing campaigns (Qian, 2020). To do so, Lego has entered into partnerships with creative companies like IKEA and Levi’s and signed long-term collaborations with Universal Pictures and Universal Music Group. Lastly, Lego's strategy drives their investments in environmental and social responsibility initiatives, such as transitioning to a circular economy (Lego, 2020).
References
The Lego Group, Annual Report 2020. Available at: https://www.lego.com/cdn/cs/aboutus/assets/bltdee53df07dda2287/Annual_Report_2020_ENG.pdf [Accessed March 5, 2022].
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Qian, J., 2021. Lego: The marketing strategy behind the Toy Industry Titan. ContactPigeon. Available at: https://blog.contactpigeon.com/lego-marketing-strategy/ [Accessed March 6, 2022].